GFL Environmental Inc. (NYSE:GFL) Receives Consensus Rating of “Moderate Buy” from Brokerages

GFL Environmental Inc. (NYSE:GFL) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $54.8889.

Several research firms have weighed in on GFL. Weiss Ratings downgraded GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Zacks Research lowered GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Finally, Citigroup set a $51.00 target price on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th.

GFL Environmental Stock Down 0.6%

GFL stock opened at $38.88 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The company’s 50 day simple moving average is $36.96 and its 200-day simple moving average is $40.16. GFL Environmental has a 12 month low of $33.33 and a 12 month high of $51.51. The firm has a market capitalization of $13.95 billion, a PE ratio of 121.50, a P/E/G ratio of 2.96 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that GFL Environmental will post 0.56 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental’s payout ratio is currently 21.88%.

Institutional Trading of GFL Environmental

A number of hedge funds have recently bought and sold shares of GFL. Versant Capital Management Inc grew its stake in GFL Environmental by 148.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,800 shares of the company’s stock worth $66,000 after acquiring an additional 1,075 shares during the period. Parallel Advisors LLC lifted its stake in shares of GFL Environmental by 256.9% during the 1st quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock worth $64,000 after purchasing an additional 1,110 shares during the period. CTC Alternative Strategies Ltd. purchased a new position in shares of GFL Environmental during the 1st quarter worth $588,000. Bank of America Corp DE boosted its holdings in shares of GFL Environmental by 43.8% during the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after purchasing an additional 563,001 shares during the last quarter. Finally, Amundi boosted its holdings in shares of GFL Environmental by 26.4% during the first quarter. Amundi now owns 379,258 shares of the company’s stock worth $15,823,000 after purchasing an additional 79,270 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.